Blockchain buzz has taken Wall Street by storm in recent months, with IT issue Ameri Holdings Inc (NASDAQ:AMRH) and photography icon Eastman Kodak Company (NYSE:KODK) the latest stocks rallying on new cryptocurrency ventures.
The news sent the shares soaring 119.4%, and today, KODK stock is up another 72.6% to trade at $11.74 and on track to close north of its 200-day moving average for the first time since last January.
The volatile price action has sparked a surge of activity in KODK's options pits, too, with total options volume topping out at a 12-month high on Tuesday.
Today, volume is running at 166 times the expected intraday pace, with 20,200 calls -- pacing for the 100th annual percentile -- and 14,578 puts, a new 12-month high, traded so far.
However, this could also be indicative of shareholders initiating options hedges with the deep out-of-the-money puts.